NerdWallet, Inc. (NASDAQ:NRDS) Receives Consensus Rating of “Moderate Buy” from Analysts

NerdWallet, Inc. (NASDAQ:NRDS) has been given an average recommendation of “Moderate Buy” by the seven analysts that are currently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $15.40.

A number of research analysts have recently issued reports on the company. KeyCorp boosted their target price on NerdWallet from $15.00 to $16.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of NerdWallet in a research report on Wednesday, October 8th. Zacks Research upgraded shares of NerdWallet from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 10th. Truist Financial raised their target price on shares of NerdWallet from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Monday, November 10th. Finally, Morgan Stanley boosted their price target on shares of NerdWallet from $12.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Monday, November 10th.

NerdWallet Stock Performance

Shares of NRDS opened at $13.90 on Friday. NerdWallet has a fifty-two week low of $7.55 and a fifty-two week high of $16.24. The firm has a 50-day simple moving average of $14.12 and a 200-day simple moving average of $11.95. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of 14.48 and a beta of 1.43.

NerdWallet (NASDAQ:NRDS) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.20 by $0.14. NerdWallet had a return on equity of 9.27% and a net margin of 9.22%.The firm had revenue of $215.10 million during the quarter, compared to the consensus estimate of $193.31 million. The firm’s quarterly revenue was up 12.4% on a year-over-year basis. Equities research analysts forecast that NerdWallet will post 0.36 EPS for the current year.

NerdWallet declared that its board has initiated a stock buyback program on Tuesday, December 16th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its stock is undervalued.

Insider Activity

In other news, insider Samuel Yount sold 15,945 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $16.04, for a total value of $255,757.80. Following the completion of the sale, the insider directly owned 358,116 shares of the company’s stock, valued at $5,744,180.64. This trade represents a 4.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders sold 44,231 shares of company stock worth $669,277. Corporate insiders own 46.54% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in NerdWallet by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 3,994,180 shares of the company’s stock valued at $42,977,000 after buying an additional 48,205 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in NerdWallet by 26.1% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,133,790 shares of the company’s stock worth $12,200,000 after buying an additional 234,691 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of NerdWallet by 1.6% in the third quarter. Dimensional Fund Advisors LP now owns 1,114,055 shares of the company’s stock worth $11,988,000 after acquiring an additional 17,947 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of NerdWallet by 3.1% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 996,032 shares of the company’s stock valued at $10,926,000 after acquiring an additional 29,829 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of NerdWallet by 9.7% in the second quarter. Geode Capital Management LLC now owns 925,503 shares of the company’s stock valued at $10,154,000 after acquiring an additional 81,986 shares in the last quarter. Hedge funds and other institutional investors own 38.81% of the company’s stock.

NerdWallet Company Profile

NerdWallet (NASDAQ: NRDS) is a personal finance company that offers independent guidance and comparison tools to help consumers make informed financial decisions. Through its website and mobile application, NerdWallet provides a wide range of content, including articles, calculators and reviews covering credit cards, mortgages, personal loans, banking products, investing, insurance and taxes. The platform aggregates partner offers to enable side-by-side comparisons, while editorially maintaining objectivity to support users in identifying the products that best suit their individual needs.

Founded in 2009 by Tim Chen and Jacob Gibson, NerdWallet is headquartered in San Francisco and serves consumers primarily in the United States, with additional localized offerings in Canada and the United Kingdom.